Moody's Investors Service has assigned an "Aa3" rating to Pittsburgh-based UPMC's proposed $239.2 million of series 2016 revenue bonds.
Moody's also affirmed the "Aa3" rating on UPMC's outstanding bonds and Erie, Pa.-based UPMC Hamot's bonds.
The rating assignment and affirmation are based on several factors, including UPMC's large size, strong market position in western Pennsylvania and adequate balance sheet measures.
The outlook is negative, reflecting Moody's Investors Service's concern regarding the business relationship between UPMC and Pittsburgh-based Highmark Health.
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